Présentation de l'entreprise
TFI International Inc. delivers comprehensive transportation and logistics services across the United States, Canada, and Mexico through three primary operating segments: Less-Than-Truckload (LTL), Truckload (TL), and Logistics. Operating within the Industrials sector specifically in the Trucking industry, the company facilitates the movement of freight goods by managing pickup, consolidation, and delivery operations on a national scale. The enterprise commands a significant market presence, evidenced by a market capitalization of $9.97B, while generating annual revenues of $7.88B supported by a workforce of 24,900 employees. These valuation and revenue figures indicate that TFI International Inc. is a substantial player in the North American supply chain, commanding a premium enterprise value that reflects its critical role in regional and cross-border freight distribution networks.
Santé financière
The company reported a total revenue of $7.88B over the trailing twelve months, resulting in a net income of $310.55M and an EBITDA of $983.71M. The substantial gap between the $7.88B in revenue and the $310.55M in net income reveals a cost structure heavily influenced by variable operating expenses, including fuel, labor, and equipment maintenance, which compresses profitability before interest and taxes. TFI International Inc. generated free cash flow of $645.46M, providing the financial flexibility necessary to fund capital expenditures, service debt obligations, and potentially return capital to shareholders without compromising operational liquidity. The margin profile shows a gross margin of 20.1%, an operating margin of 7.0%, and a profit margin of 3.9%, indicating that while the company retains a significant portion of revenue as gross profit, operating leverage and overhead costs limit the conversion of gross profit into operating income. On the balance sheet, the company holds $210.19M in cash against total debt of $3.22B, resulting in a debt-to-equity ratio of 120.41, which characterizes the capital structure as highly leveraged rather than conservative. Liquidity is maintained at a current ratio of 1.03, suggesting that current assets are just sufficient to cover current liabilities, leaving limited buffer for unexpected short-term obligations. Management effectiveness is highlighted by a return on equity of 11.6% and a return on assets of 4.7%, demonstrating the ability to generate returns on shareholder capital that exceed the cost of equity despite the high leverage inherent in the asset-heavy trucking model.
Évaluation de la valorisation
Valuation metrics indicate a trailing P/E ratio of 32.50 compared to a forward P/E of 18.80, implying that the market currently prices in a significant expected improvement in earnings trajectory where future earnings are anticipated to be more than double the trailing twelve-month performance. The price-to-book ratio stands at 3.70, suggesting that the market assigns a substantial premium to the company's tangible assets and intangible brand value relative to its book value. Alternative valuation measures such as a price-to-sales ratio of 1.26 and an EV/EBITDA of 13.13 provide context that the stock is priced based on sales volume and earnings potential, though the EV/EBITDA multiple reflects the capital intensity required to generate earnings in the logistics sector. The stock has traded between a 52-week low of $72.15 and a 52-week high of $127.44, with the current price position reflecting recent market volatility and sentiment shifts within the transportation industry. With a beta of 1.40, the company's share price exhibits higher volatility relative to the broader market, moving 40% more than the general market index during periods of rising or falling market sentiment.
Growth & Income
Recent financial performance shows a revenue growth of -7.8% and earnings growth of -16.6% year-over-year, indicating that earnings are declining at a faster rate than revenue, which often points to margin compression or one-time charges impacting the bottom line more severely than top-line sales. The company maintains a dividend yield of 1.5% with a payout ratio of 48.9%, suggesting that the current dividend distribution is sustainable given the earnings base, although the negative earnings growth trend requires monitoring to ensure the payout does not exceed future earnings capacity. The negative growth rates imply a contraction phase or market share adjustments that are currently impacting both revenue generation and profitability simultaneously. Overall, the growth and income profile presents a company in a challenging cyclical phase where income generation is under pressure while maintaining a modest but consistent dividend yield for shareholders.